E. Schnapp & Co. Works News
2 articles
growth-positive
Schnapp buys A.D.I Smart Car Systems stake
Schnapp Ltd., an Israeli tire and battery company, has entered the car stereo and alarm system market by purchasing a 50% stake in A.D. Smart Car Systems Ltd. for NIS 75 million. The deal is effective from January 1, 2017. Schnapp will also have the option to become the controlling stakeholder in A.D.I Systems by purchasing the remaining stake. Schnapp intends to finance the deal using loans from banks or other financial institutions. A.D.I Systems imports, markets, and installs various smart products for Israels car market. The company had a revenue of about NIS 140 million in 2015. Schnapps business results have been improving, with a 4% increase in revenue in the first quarter of 2016.
Partners
growth-positive
E.Schnapp completes institutional tender in IPO
Battery manufacturer E. Schnapp & Co. Works Ltd. has completed the institutional stage of its IPO and aims to raise NIS 80 million. The offering will include the issue of bonds and warrants. The companys parent, Isal Amlat Investment Ltd., and the Rosenstein family filed a draft prospectus in February. Underwriters for the offering include Menora Mivtachim Underwriters & Management Ltd., Leumi & Co. Underwriters Ltd., Apex Underwriting & Issue Management Ltd., and Epsilon Underwriting & Issuing Ltd. E. Schnapps profit in 2006 was NIS 12 million, a 24% increase from the previous year, and its revenue was NIS 101 million, a 62% increase from the previous year. The company plans to distribute a NIS 23 million dividend before the IPO.
Public Trading
